Aurora Oil and Gas (AUT)

Aurora Oil
and Gas has been upgraded to “neutral" by JPMorgan with a target price of $4.15, on the same day the US-focused oil and shale gas producer announced a $250 million capital raising.

The company will use the proceeds from the offering of unsecured notes to fund the acquisition of another $US117.5 million of assets relating to its February 28 purchase in the Eagle Ford shale area of Texas.